Newsroom Treasury and Finance Info 2

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IASB SHOULD THINK AGAIN ON FAIR VALUE ACCOUNTING

Accounting standards-setters need to recognise that "fair value" is not always the appropriate accounting method for valuing financial instruments, the British Bankers' Association said on 22nd September 2008.    &#...

MEASURES DESIGNED TO ADDRESS ELEVATED PRESSURES IN THE SHORT-TERM US DOLLAR FUNDING MARKETS

On September 18, the Bank of Canada, the Bank of England, the European Central Bank (ECB), the Federal Reserve, the Bank of Japan and the Swiss National Bank are announcing co-ordinated measures designed to address the continued elevat...

CLS BANK SETTLES NEW RECORD VOLUME

On September 17th, CLS Bank International (CLS Bank) set a new record for the volume of payment instructions settled in one day. CLS Bank settled 1,554,166 payment instructions with a gross value of US$ 8.6 trillion. CLS Bank was able ...

SWIFT LAUNCHES EASY, LOW-COST CONNECTIVITY SOLUTION

SWIFT has launched Alliance Lite on September 15th, an Internet-based solution to enable new, low volume customers such as corporates and small financial institutions to connect to SWIFT easily, securely and at low cost. The ne...

CONTINUATION OF SUPPLEMENTARY LONGER-TERM REFINANCING OPERATIONS

The Governing Council on September 4th decided to renew the outstanding six-month supplementary longer-term refinancing operation (LTRO) of EUR 25 billion that was allotted on 2 April, and that will mature on 9 Oct...

PAYMENTS COMMISSION AND ECB SUPPORT LAUNCH OF PAN-EUROPEAN SEPA DIRECT DEBIT; PROVIDE GUIDANCE TO INDUSTRY

The European Commission and the European Central Bank (ECB) on September 4th, encouraged the European Payments Council ('EPC') to move ahead with the launch of the SEPA Direct Debit scheme. Under this scheme, bank customers would...

SOVEREIGN WEALTH FUNDS: THEIR ROLE AND SIGNIFICANCE

Speech by John Lipsky, First Deputy Managing Director of the International Monetary Fund At the Seminar, Sovereign Funds: Responsibility with Our Future, organized by the Ministry of Finance of Chile Santiago, September 3, 2008&...

BIS QUARTERLY REVIEW, SEPTEMBER 2008

Markets adjust to cyclical downturnDuring the period from end-May to late August 2008, global financial markets adjusted to growing signs of a broad-based cyclical deterioration. While markets continued to display signs of fragility, w...

RENEWAL OF THE SUPPLEMENTARY THREE-MONTH LONGER-TERM REFINANCING OPERATIONS

The Governing Council decided on the 31st of July to renew the two outstanding three‑month supplementary longer-term refinancing operations (LTROs) that were allotted on 21 May 2008 (EUR 50 billion) and on 11 June 2008 (EUR 50 b...

US MONETARY AUTHORITIES DID NOT INTERVENE IN FX MARKETS DURING Q2

The U.S. monetary authorities did not intervene in the foreign exchange markets during the April—June quarter, the Federal Reserve Bank of New York said on August 14th in its quarterly report to the U.S. Congress. Dur...